NextEnergy Solar Fund Limited Extension of Credit Facilities (6556Y)

TIDMNESF

RNS Number : 6556Y

NextEnergy Solar Fund Limited

19 May 2016

19 May 2016

NextEnergy Solar Fund Limited (the "Company" or "NESF")

Extension of Credit Facilities

Highlights

   --     Increase of Revolving Credit Facility (the "RCF") from GBP100.0 million to GBP120.0 million 
   --     RCF designed to fund solar power plant acquisitions 

-- Term of new RCF tranche of GBP20 million to May 2017 with the option to extend to November 2017

-- Secured debt facilities totalling GBP243.1 million, of which GBP216.6 million currently drawn

NESF is pleased to announce the increase of its RCF with Macquarie Bank and Santander from GBP100.0 million to GBP120.0 million. The new facility of GBP20.0 million matures in May 2017 with NESF's option to extend to November 2017.

The increased RCF will provide flexibility to NESF to acquire further solar power plants from its pipeline of opportunities.

The Company also has options to extend GBP31.5 million of the pre-existing RCF of GBP100 million from September 2016 to March 2017 and the remainder of GBP68.5 million from December 2016 to May 2017.

For further information:

 
 NextEnergy Capital Limited    020 3239 9054 
 Michael Bonte-Friedheim 
 Aldo Beolchini 
 
 Cantor Fitzgerald Europe      020 7894 7667 
 Sue Inglis 
 
 Shore Capital                 020 7408 4090 
 Bidhi Bhoma 
 Anita Ghanekar 
 
 Macquarie Capital (Europe) 
  Limited                      020 3037 2000 
 Ken Fleming 
 Nick Stamp 
  MHP Communications            020 3128 8100 
 Andrew Leach 
  Jamie Ricketts 
  Gina Bell 
 

Notes to Editors:

NextEnergy Solar Fund (NESF)

NESF is a specialist investment company that invests in operating solar power plants in the UK. Its objective is to secure attractive shareholder returns through RPI-linked dividends and long-term capital growth. The Company achieves this by acquiring solar power plants on agricultural, industrial and commercial sites.

NESF has raised equity proceeds of GBP285.4m since its initial public offering on the main market of the London Stock Exchange in April 2014. It also has credit facilities of GBP243.1m in place (Macquarie and Santander: GBP120m, MIDIS: GBP55.0m, Bayersiche Landesbank: GBP45.4m and NIBC: GBP22.7m).

NESF is differentiated by its access to NextEnergy Capital Group (NEC Group), its Investment Manager, which has a strong track record in sourcing, acquiring and managing operating solar assets. WiseEnergy is NEC Group's specialist operating asset management division, providing solar asset management, monitoring and other services to over 1,250 utility-scale solar power plants with an installed capacity in excess of 1.7 GW.

Further information on NESF, NEC Group and WiseEnergy is available at www.nextenergysolarfund.com, www.nextenergycapital.com and www.wise-energy.eu.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 19, 2016 02:01 ET (06:01 GMT)